SALT LAKE CITY — The final defendant in the Rust Rare Coin Ponzi scheme was sentenced Tuesday.
A federal judge gave Joshua Rust six months in prison followed by 36 months of probation. He also must pay $1.7 million in restitution.
Rust pleaded guilty to misprision of wire fraud conspiracy in a scheme that took $200 million from investors who thought they were in a silver trading program.
Instead, Rust’s father, Gaylen Rust, spent money on a home, racehorses, mistresses and charitable contributions. He is serving 19 years in prison.